Fitch Withdraws HFC Bank Ltd.'s Ratings at 'A+'

LONDON & CHICAGO--()--Fitch Ratings has withdrawn HFC Bank Ltd.'s (HFC) 'A+' ratings as the entity is no longer considered to be relevant to the agency's coverage.

KEY RATING DRIVERS

Issuer Default Ratings

HFC was sold to HSBC Bank plc (rated 'AA-' by Fitch) in 2008. The entity no longer conducts business activities and does not have any outstanding rated debt. Thus the entity is no longer considered to be relevant to the agency's coverage.

SUPPORT RATING

The bank's Support Ratings are being withdrawn for the reason above.

EURO MEDIUM-TERM NOTE PROGRAMME AND MEDIUM-TERM NOTES

Fitch's ratings associated with the bank's euro medium-term note programme and its medium-term notes are being withdrawn for the reason above along with the fact that there is no debt outstanding.

RATING SENSITIVITIES

IDRS

Rating sensitivities are no longer relevant given today's rating withdrawal.

SUPPORT RATING

Rating sensitivities are no longer relevant given today's rating withdrawal.

EURO MEDIUM TERM NOTE PROGRAMME AND MEDIUM TERM NOTES

Rating sensitivities are no longer relevant given today's rating withdrawal.

Fitch has withdrawn the following ratings:

HFC Bank Ltd

--Long-term IDR at 'A+';

--Short-term IDR at 'F1';

--Support Rating at '1'

--Euro Medium-Term Note Programme at 'A+';

--Medium-Term Notes at 'A+'.

Additional information is available on www.fitchratings.com

Applicable Criteria

Global Bank Rating Criteria (pub. 20 Mar 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=995311

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst
Bain K. Rumohr, CFA, +1-312-368-3153
Director
Fitch Ratings, Inc.
70 W. Madison St.
Chicago, IL 60602
or
Secondary Analyst
Doriana Gamboa, +1 212-908-0865
Senior Director
or
Committee Chairperson
Christopher Wolfe, +1-212-908-0771
Managing Director
or
Media Relations
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Bain K. Rumohr, CFA, +1-312-368-3153
Director
Fitch Ratings, Inc.
70 W. Madison St.
Chicago, IL 60602
or
Secondary Analyst
Doriana Gamboa, +1 212-908-0865
Senior Director
or
Committee Chairperson
Christopher Wolfe, +1-212-908-0771
Managing Director
or
Media Relations
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com